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November 8
2008

Forex Technical Analysis for 11/10—11/14 Week

EUR/USD trend: sell. GBP/USD trend: sell. USD/JPY trend: sell. EUR/JPY trend: sell. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.1869 1.2198 1.2457 1.2786 1.3045 1.3374 1.3633 GBP/USD 1.4457 1.4996 1.5319 1.5858 1.6181 1.6720 1.7043 USD/JPY 92.69 94.73 96.47 98.51 100.25 102.29 104.03 EUR/JPY 112.77 […]

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November 7
2008

Nonfarm Employment Down, Supports EUR/USD

EUR/USD is up today after two days of decline. Employment statistics is hurting the dollar during the last two days and the bets that the Fed will have to continue cutting the interest rates become more popular. EUR/USD is currently trading near 1.2748. Nonfarm payrolls declined by 240,000 in October — that’s even more than the analysts expected (200,000), being quite pessimistic. September’s decline was also […]

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November 7
2008

Dollar Falls Before Employment Report

The U.S. dollar declined against the euro and the British pound as the traders expect that the release of the important employment data from U.S. will show the worst contraction since 2003 today. After two days of falling against the Japanese yen, the U.S. currency is currently standing almost unchanged after losing somewhat during the Asian trading session. The bad […]

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November 6
2008

Banks Slash Rates; Pound, Euro, Franc Drop

The Europe’s currencies posted a daily drop against the U.S. dollar after showing a moderate volatility during the early trading session after the regional central banks cut the interest rates at an unexpectedly large scale. An increased volatility on the Forex market was the direct reaction to the series of the interest cuts performed by the central banks of the United Kingdom, Eurozone and Switzerland today. […]

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November 5
2008

U.S. President Elections Dollar Rally Over

EUR/USD declined today after the U.S. elections were over and the next president’s name became known fast and without any troubles. Barack Obama may create all necessary conditions for the dollar to grow further, but it will take him a lot of effort to do so. When the euphoria around the elections disappeared, EUR/USD began to rise on Forex. The macroeconomic background in U.S. is very poor […]

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November 5
2008

Pattern Recognition Master for Japanese Candlesticks

The Japanese candlesticks is a nice tool of trading for any chart-trader. Some Forex traders prefer to trade on the bare charts without adding any indicators. The candlestick patterns are used as the entry and exit symbols in many cases. But it’s not an easy task to constantly recognize those Shooting Stars, various Dojis, Hammers, etc. Pattern Recognition Master is a nice tool to help the chart-traders to automatically […]

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November 5
2008

Dollar Gains After Obama Takes Presidency

The U.S. dollar strengthened its position against the euro and the British pound as the investors believe that Barack Obama’s clear victory in the U.S. presidential elections will help him to take measures soon to revive the world’s biggest economy. The news that the Democrat Barack Obama won the presidency over its Republican rival John McCain created the main positive background […]

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November 4
2008

Aussie Declines After Interest Rate Cut

The Australian dollar reversed its yesterday gains versus the U.S. dollar and the yen after the Reserve Bank of Australia announced its decision to reduce the target cash rate today. The Australian currency was falling significantly against the greenback and the Japanese yen during the Asian trading session, immediately after the country’s central bank cut the interest rate […]

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November 3
2008

Pound Gains on Stock Market Optimism

The Great Britain pound gained today against the other major currencies as the growth on the global stock markets spurred optimism and the high-yielding pound showed a stronger reaction to this uprise. The British currency was among the worst performers of the last two months when the credit crunch went deep into the global economy. The United Kingdom has one […]

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November 3
2008

EUR/USD Trades Almost Unchanged After Early Peaking

EUR/USD went down today after rising to 1.2897 early today. A bit of optimism brought by the positive Asian trading dissolved fast after European stock markets failed to continue the rally. EUR/USD is currently trading near 1.2776 after housing and manufacturing data releases in U.S. ISM PMI (manufacturing index) fell from 43.5% to 38.9% in October, while the forecast showed a decline to 42% for the last month. Construction […]

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